Three questions, actually:
1. Does the Olympics host nation automatically qualify for events?
2. Does Korea have a national hockey team?
3. Will Korea have an Olympic Hockey team for the 2018 games in Pyeongchang?

Fun quote:
Q. If the NHL does go to PyeongChang and Canada plays South Korea, what's the final score?
162-0.
Q. If the NHL does not go to PyeongChang and Canada plays South Korea, what's the final score?
162-1.

Fun quote:
Q. If the NHL does go to PyeongChang and Canada plays South Korea, what's the final score?
162-0.
Q. If the NHL does not go to PyeongChang and Canada plays South Korea, what's the final score?
162-1.

Actually, I remember the IIHF president saying Korea will not play unless they have a certain IIHF world ranking (18th comes to mind). I can't find the link to it but I'm almost certain he said that. They stopped doing that (allowing host countries to play) I believe in Italyin 2006 where they were embarrassed every game. I could be wrong.. I'm going to keep looking for the link.

Actually, I remember the IIHF president saying Korea will not play unless they have a certain IIHF world ranking (18th comes to mind). I can't find the link to it but I'm almost certain he said that. They stopped doing that (allowing host countries to play) I believe in Italyin 2006 where they were embarrassed every game. I could be wrong.. I'm going to keep looking for the link.

maybe they could do that.. who knows what the IIHF will do. Korea is in Division 1A Group A (men) right now after barely beating Poland. They start the World Championship for that division next week. They'll be playing Great Britain Italy, Hungary, Kazakhstan and Japan.
http://www.youtube.com/watch?v=xhd0B3n6M5g&feature=player_embedded is a link to last years game against Poland.. Korea was lucky on their second goal that the Polish goalie badly mishandled the puck. So, we'll see what happens. If they come out of this division they'll get to play the top 16 teams (Canada, US etc). The women won their division and are promoted Division II Group A. They came in 3rd last year when it was held here in Korea.

I doubt they'll go as well who really knows. The NHL isn't getting any financial gain from it as they can't use any promotional material and it's hard to get insurance to cover these superstars.. the goalies alone if we went with Price, Luongo and Cam Wardn(for Canada) would cost 85 mil to insure them.